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With new frosts, corn prices remain firm and a worrying supply

Posted by Rafael Moro

Image: Pixabay

The frosts last Tuesday (20) in several producing regions in Brazil brought one more reason to sustain firm prices for corn in the domestic market. Even though in many regions the off-season is already defined, and the productive losses due to adverse weather (dry) confirmed, the frosts only worsen the supply scenario.

Thus, what was seen in the week was at least price support at the levels of the previous week, but there were advances in many regions. And that in the middle of the off-season harvest. The problem is that it is a small off-season close to what was initially imagined. Estimates were falling more and more of the volume to be harvested, which worries about the supply in this second half until the beginning of the summer harvest.

In the balance of the last seven days, between Thursday (July 15) and this Thursday (July 22), corn in Campinas/CIF on sale rose from R$ 103.00 to R$ 104.00 a bag, high of 1.0%. In the Mogiana region of São Paulo, the cereal advanced in sales from R$ 101.00 to R$ 102.00 per bag, an increase of 1.0%.

In Cascavel, Paraná, in the weekly comparison, the price rose from R$ 100.00 to R$ 105.00 per bag, up 5.0%. In Rondonópolis, Mato Grosso, the price went from 88.00 per bag to R$ 90.00 (+2.3%). In Erechim, Rio Grande do Sul, the value rose from R$ 100.00 to R$ 102.00 per bag, an increase of 2.0%.

In Uberlândia, Minas Gerais, the price increased from R$ 97.00 to R$ 100.00 per bag in the last seven days, an increase of 3.1%. And in Rio Verde, Goiás, the market went from R$ 88.00 to R$ 93.00.

By: Lessandro Carvalho | Safras e Mercado

This text was autmomatically translated from Portuguese.